R/€ = 19.22 Change: -0.07
R/$ = 16.99 Change: 0.01
Au 1783.51 $/oz Change: 8.21
Pt 822.58 $/oz Change: 7.53

Australasia News

Power Metal raises £1m to accelerate exploration

By: Schalk Burger     Updated 2 hours 17 minutes ago Aim-listed metals exploration and development company Power Metal Resources has raised £1-million to accelerate exploration across its portfolio of projects and to commercialise select project interests. The funds raised will increase the available working capital (cash and listed financial... 

Air Products and thyssenkrupp sign green hydrogen agreement

By: Schalk Burger     Updated 3 hours ago NYSE-listed industrial gases multinational Air Products and industrial technology multinational thyssenkrupp on July 5 announced that they had signed an exclusive strategic cooperation agreement to develop world-scale electrolysis plants to generate green hydrogen. The two companies will... 

Copper poised to maintain upward price trajectory, says ERG CEO

By: Simone Liedtke     Updated 4 hours ago Diversified miner Eurasian Resources Group (ERG) says the unprecedented levels of stimulus across the world are set to sustain the recovery in copper demand in the longer term, with the supply impact of the Covid-19 pandemic expected to extend beyond this year. Growth drivers include the digital... 

Australia's Prospect Resources picks adviser for sale of Zimbabwe lithium mine

By: Reuters     Updated 4 hours ago Australian-listed Prospect Resources said on Monday it had picked Renaissance Securities Capital as its exclusive financial advisor for the possible sale of shares in Zimbabwe's Arcadia Lithium mine to Russian energy firm Uranium One. Uranium One, a unit of Russia's state-owned nuclear energy... 

Indonesia says trade, investment deal with Australia takes effect

By: Reuters     6th July 2020 An Indonesia-Australia deal that eliminates most trade tariffs between the two nations and aims to open up investment, took effect on Sunday, Indonesia's Trade Ministry said. The Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA), signed last year and ratified by the... 

Pensana Rare Earths lists on LSE

By: Simone Liedtke     6th July 2020 ASX-listed Pensana Rare Earths started trading on the LSE on July 6. The company has more than 188.2-million ordinary shares in issue and is not raising any funds. Chairperson Paul Atherley says the $16-trillion post-Covid stimulus programmes that have been announced globally are “transforming... 

Pensana Rare Earths lists on LSE

Commercial production declared at Century zinc mine

By: Esmarie Iannucci     6th July 2020 Zinc miner New Century Resources has declared commercial production at its Century zinc mine, in Queensland. “Despite the Covid-19 pandemic, operations at Century continue to ramp up and have again delivered record production in the June quarter. Century has now achieved seven consecutive... 

WA amends mining regulations to ease Covid constraints

By: Esmarie Iannucci     6th July 2020 The Western Australian state government has amended the state’s mining regulations to assist tenement holders to apply for expenditure exemption amid the Covid-19 pandemic. Under the revised regulations, tenement holders could now apply for expenditure exemptions if they are able to demonstrate... 

Auteco shakes tin for Canadian gold

By: Esmarie Iannucci     6th July 2020 Junior minerals explorer Auteco Minerals is hoping to raise A$30.4-million through a fully underwritten share placement. The ASX-listed company on Monday announced that it would issue 225-million new shares, representing some 16.8% of the company’s existing issued capital, at a price of 13.5c... 

Santos unveils salty plans for Narrabri

By: Esmarie Iannucci     6th July 2020 Oil and gas major Santos has inked a memorandum of understanding (MoU) with Natural Soda to use salt removed from produced water as part of the Narrabri gas project, in New South Wales. . The two companies have been working together for more than 12 months on a commercially-viable model that... 

Santos unveils salty plans for Narrabri

Aeris hedges Cracow gold

By: Esmarie Iannucci     6th July 2020 ASX-listed Aeris Resources has entered into unsecured gold hedges for 36 000 oz of gold, at a forward price of A$2 536.25/oz for the gold produced at its newly acquired Cracow mine, in Queensland. Aeris said that the hedges, with Macquarie Bank, would mature over the next 12 months in scheduled... 

Molyhil gets major project status

By: Esmarie Iannucci     6th July 2020 The government of the Northern Territory has awarded ASX-listed Thor Mining’s Molyhil tungsten/molybdenum project Major Project status. A 2018 definitive feasibility study estimated that the project would require a capital investment of A$69-million and would produce an annual 125 000 t/y of... 

Avenira raises funds

By: Esmarie Iannucci     6th July 2020 Phosphate and gold developer Avenira will raise A$3.4-million through a share placement and two-for-seven non-renounceable entitlement offer to advance its Jundee South gold project and its Wonarah phosphate project, in Western Australia and the Northern Territory respectively. An initial... 

Displacement continuing at copper mine where openpit give way is imminent 

By: Martin Creamer     6th July 2020 Vertical and horizontal displacement is continuing at the Nchanga Open Pit Cut 2 in Chingola in Zambia, where geo-technical assessments point to an imminent collapse of a portion of the open pit – but the anticipated slough had not happened by late Sunday when Mining Weekly spoke by phone to... 

Displacement continuing at copper mine where openpit give way is imminent
Photo by Creamer Media
Konkola Copper Mines CEO Chris Sheppard.

Epiroc aims to halve carbon dioxide emissions in operations as part of 2030 goals

By: Schalk Burger     3rd July 2020 Mining and infrastructure equipment multinational Epiroc this week released its 2030 sustainability goals, which include halving carbon dioxide emissions from operations, transport and major suppliers, as well as from customers’ use of Epiroc equipment. "These are challenging targets, but we will... 

Reliable connectivity essential for effective IoT

By: Schalk Burger     3rd July 2020 A global study conducted by satellite communications multinational Inmarsat found that only 15% of mining organisations consistently have access to reliable connectivity for their Internet of Things- (IoT-) enabled projects. Inmarsat’s research programme into IoT trends 'The Rise of IoT in... 

Moon metals discovery aids development of lunar formation theories

By: Rebecca Campbell     3rd July 2020 Scientists using data from the US National Aeronautics and Space Administration’s (Nasa’s) Lunar Reconnaissance Orbiter (LRO) spacecraft have discovered evidence that the Moon might, underneath its surface, be richer in metals (such as iron and titanium) than had previously been believed. Nasa is... 

Moon metals discovery aids development of lunar formation theories

Reopening of economies boosting metals prices 

By: Marleny Arnoldi     3rd July 2020 Since lockdown measures have started to ease around the world to contain Covid-19, ratings and research agency Standard & Poor’s Global (S&P Global) says the reopening of economies, combined with monetary stimulus by banks and governments, has allowed industrial metal prices to rise. However,... 

Reopening of economies boosting metals prices

Resgen extends sunset date for Boikarabelo funding agreement

By: Tasneem Bulbulia     3rd July 2020 Dual-listed Resource Generation (Resgen) has recorded changes to the common terms agreement for its mine funding package, in noted in its market update. On December 5, 2019, the company announced that, along with its majority owned subsidiary, Ledjadja Coal, it had executed principal binding... 

Turquoise Hill to defer any interim funding talks on Mongolian mine with Rio Tinto

By: Reuters     3rd July 2020 Turquoise Hill Resources Ltd said on Thursday it has decided to defer further discussions on any interim funding arrangements with Rio Tinto for its Mongolian copper project. The Mongolian state owns 34% in the Oyu Tolgoi copper project, while Rio's majority-owned Turquoise Hill has a 66% stake. 

Death toll rises above 160 in Myanmar jade mine collapse

By: Reuters     3rd July 2020 The death toll in a landslide at a jade mine in northern Myanmar has risen above 160, with more feared dead, authorities said on Friday, as search efforts continued for a second day. A heap of mining waste collapsed into a lake on Thursday and buried many workers under mud and water. 

Hawkstone increases Utah landholding

By: Esmarie Iannucci     3rd July 2020 The share price of ASX-listed Hawkstone Mining settled 20% higher on Friday after the company announced that its landholding at the Western Desert gold/copper project, in Western Utah, had increased by 950%. The company on Friday told shareholders that since acquiring the project in March of... 

Australian gas prices among lowest in Asia

3rd July 2020 New data by the International Gas Union (IGU) has shown that Australia’s average natural gas prices remained among the lowest in Asia. In its 2020 Wholesale Gas Price Survey, IGU showed that average wholesale gas price in Australia last year was around 40% less than the average wholesale price... 

S Australia establishes mining liaison service

By: Esmarie Iannucci     3rd July 2020 The South Australian government has announced the formation of a new resources information service specifically designed to assist landowners, farmers and community members in their dealings with the resources sector. From July 1, the Rural Business Support (RBS) landowner information service... 

WA investing further in core library

By: Esmarie Iannucci     3rd July 2020 The Western Australian government has announced A$7-million in funding to expand the capacity of the Joe Lord core library, in Kalgoorlie. The facility stores core samples that contain valuable geoscientific information for exploration companies and others seeking new petroleum and mineral... 

Ora Banda raises cash for Davyhurst restart

By: Esmarie Iannucci     3rd July 2020 ASX-listed Ora Banda mining has launched a A$55-million capital raise to underpin the restart activities at its Davyhurst gold project, in Western Australia. The equity raising will consist of an institutional share placement to raise an initial A$40-million, and a one-for-nine accelerated... 

Cost blow-outs and delays confirmed at Oyu Tolgoi

By: Esmarie Iannucci     3rd July 2020 Mining major Rio Tinto on Friday confirmed a cost blow-out of between $1.3-billion and $1.8-billion at the Oyu Tolgoi copper project, in Mongolia, compared with the original $5.3-billion capital estimates. Meanwhile, first sustainable production has been delayed by between 21 and 29 months... 

Cost blow-outs and delays confirmed at Oyu Tolgoi

Covid kills 13 mineworkers, no foreigners back at work  

By: Martin Creamer     2nd July 2020 Thirteen mineworkers have now succumbed to the coronavirus, Minerals Council South Africa public affairs and transformation senior executive Tebello Chabana said on Thursday. Of the 13 who have died, seven were employed in platinum mining in North West province, which has the most cases at 1 413... 

Covid kills 13 mineworkers, no foreigners back at work
Minerals Council South Africa Covid update covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Mining will need long-term strategies to survive new normal 

By: Simone Liedtke     2nd July 2020 For the mining industry to be successful post-Covid-19, the industry will require long-term strategies to deal with its challenges, which includes the pandemic. In a webinar hosted by the London Bullion Market Association (LBMA) on July 2, investment management firm Orion Resource Partners... 

Mining will need long-term strategies to survive new normal

Hydrogen-powered aviation preparing for takeoff – study 

By: Martin Creamer     2nd July 2020 Hydrogen as an energy source will play a key role in transforming aviation into a zero-carbon/climate-neutral system over the next few decades, an independent study states in estimating that the first short-range hydrogen-powered demonstrator could be developed by 2028 if sufficient investments... 

Hydrogen-powered aviation preparing for takeoff – study
Strong steps being taken to clean up the skies by using hydrogen to power aircraft.

At least 113 killed as Myanmar jade mine collapse buries workers

By: Reuters     2nd July 2020 A landslide at a jade mine in northern Myanmar killed at least 113 people, with more feared dead, authorities said on Thursday, after a heap of mining waste collapsed into a lake, triggering a wave of mud and water that buried many workers. The miners were collecting stones in the jade-rich... 

Tritton beats full-year guidance

By: Esmarie Iannucci     2nd July 2020 The Tritton copper project, in New South Wales, has beaten production expectations for the 2020 financial year, ASX-listed Aeris Resources said on Thursday. The company noted that production for the full year reached 25 041 t, which was some 2% above the guidance of between 23 500 t and 24 500... 

More offtake secured at Coburn

By: Esmarie Iannucci     2nd July 2020 Mineral sands developer Strandline Resources has secured a binding offtake agreement for the zircon product from its Coburn project, in Western Australia. The company on Thursday said that the offtake agreement with Chilches Materials covers some 7 000 t/y of premium zircon product for the first... 

Mount Mackenzie optimised - REZ

By: Esmarie Iannucci     2nd July 2020 Pit optimisation and higher gold prices have improved the economics of the Mount Mackenzie gold and silver project, in Queensland. ASX-listed Resources and Energy reported this week that on the back of an updated mineral resource estimate, and accounting for a higher gold price, the optimisation... 

Petroleum exploration approved in S Australia

By: Esmarie Iannucci     2nd July 2020 The South Australian government this week announced the successful bids for five new petroleum exploration licenses. The five licenses have a guaranteed work programme valued at a combined A$58.85-million over the next five years, Energy and Mining Minister Dan von Holst Pellekaan said. 

Equatorial supports Salt Lake raising

By: Esmarie Iannucci     2nd July 2020 Potash developer Salt Lake Potash will raise A$15-million through the placement of unsecured zero-coupon convertible notes to fund the continued development of its Lake Way project, in Western Australia. The ASX-listed miner on Thursday said that it had received firm commitments from corporate... 

MACA wins Atlas contract

By: Esmarie Iannucci     2nd July 2020 Contract miner MACA has been awarded a mining contract at Atlas Iron’s Corunna Downs mine, in the Pilbara. The mining services contract will consist of openpit mining services, including drilling and blasting, and loading and hauling, and would generate revenues of A$230-million over the... 

Rio adds to board

By: Esmarie Iannucci     2nd July 2020 Diversified major Rio Tinto has added a strategy and development role to its executive committee, with Peter Toth appointed as a group executive. The new role will be focused on leading Rio’s transformation efforts around portfolio, climate change, and closure, working in partnership with the... 

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